Ray White Group has revealed it recorded $8.74bn in transaction values over the month of March – a whopping 30% more than the brand’s previous best.
The $8.74 billion figure soars above the previous record-breaking $5.71 billion transaction figure reported in November 2020.
Ray White managing director Dan White said the result was also up “a staggering 92% year on year”.
He expressed extreme pride in the network’s ability to service more than 19,000 families and businesses across Australia and New Zealand across the month.
“This was a result driven by more and more vendors seeking to take advantage of a strong market, coupled with the high speed and conviction in the decision making of buyers”.
Mr White called it “the most powerful of combinations”.
Ray White Australia said the result was bolstered by enormous buyer demand and “off-the-chart auction metrics”.
Ray White Australia scheduled 18.5 per cent more auctions in March 2021 than it had in March 2020.
A total of 2,308 properties were taken under the hammer – with six people registered for each auction, on average.
It’s up 2.5 people per auction compared to 2020 figures.
The network noted auction clearance rates as also improving on last year’s figures; 75.4 per cent of auctions found buyers on the day in March alone.
Alongside the results, Ray White Group rebutted a multitude of market suggestions that there’s a shortage of property listings coming to market.
Arguing that there is no shortage of new listings, it reported that “in fact, there is more new stock coming to market now than there has been for many years”.
The network highlighted it had brought 10,760 new listings to the Australian and New Zealand real estate markets in March 2021 alone.
The figure represents a 10 per cent increase on listings from November 2020.
About the author
Debra Beck-Mewing is the Editor of the Property Portfolio Magazine and CEO of The Property Frontline. She has more than 20 years’ experience in buying property Australia-wide and has extensive experience in helping buyers use a range of strategies including renovating, granny flats, sub-division and development. Debra is a skilled property strategist, and a master in identifying tailored opportunities, homes and sourcing properties that have multiple uses. She is a Qualified Property Investment Advisor, licensed real estate agent and also holds a Bachelor of Commerce and Master of Business. As a passionate advocate for increasing transparency in the property and wealth industries, Debra is a popular speaker on these topics. She is also an author, podcast host, and participates on numerous committees including the Property Owners’ Association.
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Disclaimer – This information is of a general nature only and does not constitute professional advice. We strongly recommend you seek your own professional advice in relation to your particular circumstances.
